Sunshine Coast Update: New infrastructure affects property investment

The Sunshine Coast is undergoing a massive infrastructure overhaul as the city continues to grow, with population forecasts predicting a 13.7 percent increase over the next five years. Aside from its sheer beauty, stunning beaches, and comfortable climate, the Sunshine Coast is a booming city making big strides to becoming an important infrastructure hub in Queensland.

Some of the city’s biggest infrastructure projects include the following:

  • Sunshine Coast Airport. The airport in Maroochydore is currently undergoing a runway extension to the value of $347 million which will see the airport servicing larger aircrafts including Airbus 330s and Boeing 787s and 777s. Due for completion in 2020, commentators believe the airport upgrade could see an extra 500,000 visitors to the area by year 2040.
  • Westin Hotel. Starwood announced their plan to open a $100 million Westin hotel in Coolum in 2021. Although still pending council approval, the reputable hotel is part of a $1 billion development and construction plan.
  • New CBD. The Australian Financial review recently reported that the Sunshine Coast Council (SCC) plans to build a new $2.1 billion CBD, spanning over 53 hectares. The SCC stated the vision for the Maroochydore City Centre “represents a once in a lifetime opportunity to establish a new capital city for the Sunshine Coast.”
  • Sunshine Coast University Hospital. Due for completion by the end of 2016, the new hospital may also call for a light rail network.

artist-impression
New Sunshine Coast CBD artist impression.

Source: The Sunshine Coast Council, 2016, https://www.sunshinecoast.qld.gov.au/Council/Planning-and-Projects/Major-Regional-Projects/Maroochydore-City-Centre/Maroochydore-City-Centre-Vision

With these new developments, there is no denying that the Sunshine Coast is growing at a radical pace. The balance between increased population and brand new assets will mean it’ll be a strong contender for investors and homeowners alike. Now’s the time for investors to place their focus on the Sunshine Coast to reap the rewards in the future.

If you would like to discuss investment options available to you in the Sunshine Coast, contact CPS Property today.

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